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Blue Chip Daily Chart of the Week

02/21/21
Blue Chip Daily Chart of the Week:
ArcelorMittal, MT
Close: 23.91
Stop level for position traders and investors: 19.82
please see chart analysis below

  • ArcelorMittal (MT) is one of our top technical ideas coming into the week and is on this week’s Members Top 25 List.
  • MT is the world’s largest steelmaker, and is well positioned to resume it’s cyclical recovery move.
  • MT is in a technical uptrend above the rising 20, 50, 100 and 200-day moving averages, indicating an uptrend on multiple time frames.
  • MT recently had a sharp pullback of 20.3% off of 52-week highs and held over the key $20 technical level.
  • $21-$22 is near-term support and $20 is a key trend level, which is why the stop is below $20.
  • MT was our Chart of the Week as well on 11/1/20, just over 3 1/2 months ago and is +75% since then.
  • Disclosure: We are also long MT from 10/15/20, as shared with Blue Chip Daily Members in real time. 
  • Our Top Performers page: https://bluechipdaily.com/performance/


Have a great week,

Larry Tentarelli
Publisher
Disclaimer – Blue Chip Daily Trend Report

 

MT CHART OF THE WEEK FROM 11/1/20

 

 

 

 

 

 

 

 

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